Hapag-Lloyd and Israeli private equity firm FIMI are expected to submit a revised proposal for their US$4.2 billion acquisition of ZIM . The two parties have been given 30 days to make structural changes to the transaction, according to a report by Calcalist. The changes are aimed at addressing concerns raised by the Israeli government over the future of ZIM and Israel’s maritime interests. Israeli authorities seek changes to deal Hapag-Lloyd and FIMI agreed to acquire ZIM in February. The transaction has received shareholder approval but still requires regulatory clearances. A key hurdle is approval from the Israeli government due to the state’s golden share in ZIM . According to Calcalist, Israeli authorities have raised concerns over access to key international shipping routes following the acquisition. There are also concerns about the future structure of ZIM Israel . Under the proposed transaction, it is expected to operate separately under FIMI’s ownership. Calcalist reported that six of eight government bodies expected to provide opinions on the transaction have opposed it. These reportedly include the ministries of Economy, Agriculture and Transport. Parties receive 30-day extension Hapag-Lloyd and FIMI have held several meetings with Israeli government representatives in recent weeks. The parties have now agreed to a 30-day extension to address the concerns raised by authorities. According to the report, the revised structure is expected to include tighter restrictions on foreign ownership and greater government control over ZIM Israel. Changes aimed at strengthening Israel’s maritime capacity are also expected to form part of the revised proposal. Hapag-Lloyd rejects foreign interference concerns Hapag-Lloyd has argued that the proposed transaction would protect Israel’s maritime transport capabilities. According to Calcalist, the German carrier said during discussions that the deal would leave “the chance of any foreign inter